We can look at this a number of ways, but put simply the performance and results you get from your business can be magnified if you focus on your core business competencies. It is more relevant now than ever before. In the internet age there is no need to reinvent the wheel as many of the tasks that are not core to revenue production can be outsourced in some way.
Simple examples of this are things like..
- IT support
- Dstribution and so on…
I’m certain that most small business people can do their own books, but doesn’t that take you away from your core purpose? In addition you need to consider that the time you spend in doing the books, you can be building your business and generating more income over and above the costs of outsourcing the work. You could employ a bookkeeper or just dump the receipts in a shoe box for the accountant to sort out, but neither of these are a good use of your funds. As for IT support, your time is valuable so why not use an outside source to manage your IT systems.
You can use of services from virtual assistants or specialist suppliers from places like India or the Philippines. I regularly utilise the services of a small team from India to crop and prepare photo’s for websites at a fraction of the cost of doing the work in house or even getting it done locally. Even sites such as elance.com provide great options for designing marketing material, logo’s, brochures and more. There is an endless stream of services that can be done by others at great rates.
The key to staying lean, flexible and profitable is to minimise the non-core activities performed in house by your business and hand that work over to professionals that can do a better and faster job… as it is their core business so you can focus your resources on your knitting.